UnitedHealth Group has received multiple offers to offload its Brazil unit, Bloomberg reported Dec. 20.
Among those is an offer from Brazilian entrepreneur Nelson Tanure, who valued the unit at $509 million to $610 million, according to the report. Private Equity firm Bain Capital and another Brazilian entrepreneur, Jose Seripieri Filho have also reportedly made acquisition proposals.
UnitedHealth is expected to make a decision soon, though negotiations could end without a deal, people familiar with the matter told Bloomberg.
The healthcare giant purchased the unit, called Amil Participacoes SA, in 2012 for $4.7 billion, according to the report. The company has been trying to offload its Brazilian assets since 2022 due to growing losses in individual health plans.
UnitedHealth's operations outside of the U.S. have not been a focus of the company's presentations to investors for years, according to the report. Its international businesses represented less than 3% of its total revenue in 2022.